Lake City Federal Bank Rates & Review
- CD Rates
Updated: 2012-05-16 - Lake City considers its trade area to be within a 30 mile radius of Lake City, MN and reserves the right to reject any deposit or application outside the trade area..
- Compare cd rates across all banks
- Term
- APY
- Min. To Earn APY
- Compounding Method
Lake City Federal Bank Review
Since 1934, Lake City Federal Bank has provided community banking services to customers in Lake City, Minnesota.
The Depression spurred many changes in the financial services industry, including the closing of some banks as well as the opening of others. In 1934, a group of local citizens in Lake City, Minnesota founded Lake City Federal Savings and Loan Association to help residents with their housing needs. Today, as Lake City Federal Bank, the bank provides a complete line of financial services and products to residents in the Lake City, Minnesota area.
As of Sept. 2010, the Better Business Bureau gives Lake City Federal Bank an A rating, while Bauer Financial rates the bank with 3.5 stars, a "good" rating.
Financial services
While the focus of Lake City Federal Bank is on providing community banking to local residents, the bank also offers online banking and bill paying and telephone banking so that customers throughout the country have 24-hour access to their funds. Customers can transfer funds, check account balances and pay bills online.
Customers of Lake City Federal Bank can apply for mortgage loans, home equity loans and consumer loans. The bank has online calculators to help consumers estimate loan payments and plan savings accumulations.
In addition to personal accounts, Lake City Federal Bank offers a full range of business accounts and services.
Financial products
In addition to a statement savings account, the bank offers a money market account, a certificate of deposit (CD), an IRA and multiple checking account options.
All deposit accounts are fully insured to the maximum limit of $250,000 per depositor.
Deposit insurance
Lake City Federal Bank has been insured by the Federal Deposit Insurance Corporation since 1934. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.
Compare savings account interest rates from Lake City Federal Bank and hundreds of other banks and credit unions at SavingsAccounts.com.
Disclaimer: Because rates & offers from advertisers shown on this website change frequently, please visit referenced sites for current information. Per FTC guidelines, this website may be compensated by companies mentioned through advertising, affiliate programs or otherwise.
Other Banks to Consider:
| Sallie Mae Bank 0.75 |
| CapitalOne 0.60 |
| E*Trade 0.15 |
| Citi 0.05 |
| Flagstar 0.10 |
| Nationwide 0.40 |
| Bank Of America 0.05 |
| Wells Fargo 0.01 |
| Chase 0.10 |
